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Kid ASA Q3 profit falls YOY

Kid ASA said its third-quarter normalized net income was 77 Norwegian øre per share, a decrease from 81 øre per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 27.0 million kroner, a decrease from 28.4 million kroner in the prior-year period.

The normalized profit margin declined to 9.4% from 9.6% in the year-earlier period.

Total revenue decreased on an annual basis to 287.6 million kroner from 295.5 million kroner, and total operating expenses decreased year over year to 237.6 million kroner from 242.1 million kroner.

Reported net income fell 17.5% from the prior-year period to 28.2 million kroner, or 81 øre per share, from 34.2 million kroner, or 98 øre per share.

As of Nov. 11, US$1 was equivalent to 8.61 Norwegian kroner.